MicroStrategy Incorporated (Nasdaq: MSTR), a leading independent business intelligence company, disclosed its third quarter financial results for 2023 on November 1, revealing a continued focus on Bitcoin acquisition and AI integration in its offerings. The Q3 report highlighted an acquisition of 6,067 bitcoins at a total cost of $167.0 million, averaging $27,531 per bitcoin, bringing their total holdings to 158,400 bitcoins valued at $4.69 billion as of October 31, 2023. The report also indicated a year-over-year revenue increase of 3% amounting to $129.5 million, with significant growth in Software Licenses Revenues (up 16% to $45.0 million) and Subscription Services Revenues (up 28% to $21.0 million).
MicroStrategy’s foray into artificial intelligence was showcased with the launch of its inaugural MicroStrategy AI software, leveraging Microsoft Azure OpenAI, marking a significant stride in the business intelligence industry…
